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Gold/Mining/Energy : MIRANDOR-MIQ ON MONTREAL -- Ignore unavailable to you. Want to Upgrade?

To: Bob Tate who wrote (1852)	5/1/1998 6:22:00 PM
From: Stocks	Read Replies (1) \| Respond to of 2635

Hi Bob, Agora and all, Here are some excerpts from the Kinross 1997 Annual Report about Mirandor: Page 4, Exploration Activity "In 1996, in response to the exuberance of the market, when exploration plays were taken to levels that made acquisitions impossible, we hired as Vice-President of Exploration Bob Schafer, a veteran explorations geologist who was charged with the task of establishing an exploration team and finding high-caliber targets on a rather small budget. Last year through the efforts of Bob and his staff, we examined numerous projects and settled on two: the Wilson Creek project in the Atlanta district of Nevada, where we are earning a 60% interest by spending $5 million over four years, and the Railroad deposit at the south end of the Carlin trend, where Kinross is earning a 50% interest by spending $7 million over four years. In addition, Kinross may increase its interest in both projects by funding feasibility-related activities. Although work has not commenced as yet on the Railroad project, the results on the Wilson Creek project, which are discussed in more detail in the body of this report, are very encouraging." Page 18, Exploration & Development "Kinross carries out exploration for two essential reasons: to replace exhausted resources and to discover new ore bodies to provide future growth for the company. In 1997, Kinross' exploration activity, complemented by junior affiliates Pentland Firth Ventures Ltd. and Mirage Resource Corporation, aggressively sought new projects on virtually every continent as well as in areas contiguous to the company's existing operations." "The goal of Kinross' exploration activities is the discover of precious metal deposits that contain in excess of one million ounces of gold equivalent with the grade, geometry and metallurgical characteristics that lend themselves to productions rates in excess of 100,000 ounces per year at competitive cash costs............" "The Kinross exploration program is proactive and success driven. Funding to identify new opportunities and advance ongoing projects is budgeted at $4.4 million for 1998. Compelling new projects will be supported through special funding allocations. Total exploration-related expenditures for 1998 are forecast to be $6.8 million............." "Late in 1997, Kinross negotiated an option with Mirandor Exploration, Inc. to explore and earn a 60% interest in the Railroad district in northcentral Nevada, a 55 square mile area adjoining Newmont's Rain deposit at the southern end of the Carlin Trend. There are several zones of drill-indicated mineralization on the property, and the geological setting suggests that the company has a significant opportunity for exploration success." We need gold to rally!! Brandon